What is the story about?
What's Happening?
ORF Genetics, an Icelandic molecular farming company, has raised €5 million ($5.9 million) to scale its production of growth factors for cultivated meat. CEO Berglind Rán Ólafsdóttir expressed confidence in the future of cultivated meat as part of the food system, emphasizing the market's growth potential. The company supplies growth factors to various cultivated meat companies, including Australian startup Vow, and plans to expand its investor base by the end of October. The funds will be used to increase production capacity for MESOkine growth factors significantly by 2027 and further by 2032. ORF Genetics utilizes barley as a host for growth factors, which is considered a cost-effective and scalable alternative to traditional methods involving precision fermentation.
Why It's Important?
The expansion of growth factor production by ORF Genetics is crucial for the cultivated meat industry, which relies on these factors to stimulate cell growth and differentiation. As the industry seeks to reach commercial scale, affordable and scalable growth factor production is essential. ORF Genetics' approach using barley offers a cheaper alternative to precision fermentation, potentially reducing costs for cultivated meat producers. This development could accelerate the commercialization of cultivated meat, providing a sustainable alternative to traditional meat production and addressing environmental and ethical concerns associated with conventional livestock farming.
What's Next?
ORF Genetics plans to expand its funding round by the end of October, inviting new investors to support its growth. The company aims to increase its production capacity for growth factors significantly over the next few years, which could enhance the scalability of cultivated meat production. As more companies reach commercial scale, the demand for growth factors is expected to rise, potentially leading to further innovations and cost reductions in the industry. Regulatory approvals in multiple countries have already been achieved, and ORF Genetics continues to work closely with customers to support their approval processes.
Beyond the Headlines
The use of barley for growth factor production presents an environmentally friendly option, as it does not invade natural habitats and is self-contained. This method also reduces downstream processing costs, as barley proteins do not require high purification levels for use in cultivated meat production. The regulatory landscape for cultivated meat is evolving, with comparisons often made to conventional meat. ORF Genetics' products have passed regulatory approvals in several countries, indicating growing acceptance of cultivated meat as a viable food source.
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